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Thursday, Nov 23, 2006

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Corporate - Diversification
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Parveen Travels plans 3-star hotel

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Chennai, Nov. 22

Parveen Travels, a Chennai-based company that operates buses for packaged tours and daily trips besides offering cargo and courier services, proposes to set up a three-star hotel with boarding and lodging facility on the Old Mahabalipuram Road. The company has submitted a proposal to the State Government and is awaiting clearance, Mr A. Afzal, Managing Director, Parveen Travels, said.

The investment details of the project were not disclosed. The company has also bagged the master franchisee rights for UK-based fast food chain Dixy Chicken to set up outlets in Tamil Nadu and Puducherry. "We are initially investing about Rs 1.5 crore to set up a 6,000 sq.ft. outlet in Panayur (a fishing village about 100 km from Chennai) on the East Coast Road," said Mr Afzal.

At least 40 more outlets occupying between 500 and 1,000 sq.ft. are planned throughout Tamil Nadu and Puducherry. Modelled on the McDonald's chain of fast foods, the outlets will serve fish and other seafood-based snacks besides chicken, said Mr Afzal.

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